You can deduct the interest on a loan or a lease for the acquisition of a home or a plot for the construction of a home paid to the bank in 2024 from your taxable income in the maximum amount of 300 euros. This is the last year when the state will be refunding this type of taxable income.

You will find the necessary certificate on the interest paid on a home loan or lease that you can send to the Tax and Customs Board from the Internet Bank. To do this, go to the ‘Loans/Insurance’ section of the Internet Bank, select ‘Notices to the Tax Board’, and click on the button to submit the data for the income return to the Tax and Customs Board. This way, your data will be added directly to the pre-completed income tax return.  For more information on declaring the interest of a home loan, please visit the website of the Tax and Customs Board.

For more information on declaring the interest of a home loan, please visit the website of the Tax and Customs Board. 

You may deduct the interest on a loan for the acquisition of a home or a plot for the construction of a home from taxable income also if the acquisition was made with a consumer loan or a mortgage loan. In this case, the certificate containing the interest data is not available in the Internet Bank; instead, you must submit the information to the Tax and Customs Board yourself. You can obtain the interest data by emailing the bank through the menu item ‘Contact’ → ‘Letter to bank’ of the Internet Bank.

If you have concluded an agreement for the management of a securities portfolio in the Robo-Advisor of the SEB mobile application, then you have trusted SEB with putting together your ETF portfolio. However, you need to add the data to the income tax return yourself.

To help with income returns, SEB has added an assistant for declaring investment income to the Internet Bank. It has access to all the necessary information for submitting the data regarding the investment account and can be used for sending the data to the e-Tax online environment. We have explained how to use the assistant for declaring investment income in the guidelines for declaring investment income.

If you hold an investment portfolio that only contains ETFs at SEB, please read the guidelines for submitting the data below. If you have other investments as well, please review the guidelines for the assistant for declaring investment income as well.

When declaring income from an ETF portfolio of the Robo-Advisor, please keep in mind the following:

1. The SEB assistant for declaring investment income is available in the SEB Internet Bank.
2. You should declare this service as a portfolio account in the open investment account system (hereinafter, we will refer to it as a 'portfolio account').
3. We recommend that you use the SEB assistant for declaring investment income when submitting the data of the portfolio account, as it contains all necessary data for declaring the portfolio account as an investment account. You only need to review the data, approve it, and send it to the e-Tax environment.
4. If you also use the account from which you transfer money to the portfolio account as an investment account when investing with the Robo-Advisor, then you should declare both accounts.
5. If you do not declare the portfolio account as an investment account, then you must declare the sales transactions made on the account and pay income tax if necessary.
6. If you need to change the details of the investment account after submitting them to the e-Tax environment, then you can correct the data within one year by using the SEB assistant for declaring investment income, for example. Through that, you can also send the changes to the e-Tax again. If the need for changing the details arises later, please contact the Tax and Customs Board.

If you have used the microinvestment service in SEB Internet Bank and have invested in exchange-traded funds (ETFs) listed by the bank, you need to enter the data yourself on your income tax return.

To facilitate the declaration, SEB Internet Bank has created an investment income declaration assistant, which contains the information necessary for declaring an investment account and through which you can send the data to the e-Tax Office. We explain how to complete the declaration assistant in the investment income declaration instructions.

When declaring microinvestment ETFs, we recommend that you pay attention to the following:

1. The SEB declaration assistant is available in SEB Internet Bank.
2. You should declare microinvestment ETFs according to whether you used the investment account or regular account system.
3. When declaring ETFs, we recommend that you use the SEB investment income declaration assistant, where you can find all the data necessary for declaring as an investment account. All you need to do is review the data, confirm it and send it to the e-Tax Office.
4. If you did not use the investment account system, you must declare sales transactions made with micro-investments and pay income tax if necessary.
5. If you need to change the investment account data after submitting them to the e-Tax Office, you can correct them within three years, using MTA e-service. From there, you can also re-send the changes to the e-Tax Office. If the need to make changes arises later, please contact the MTA.

Income from the sale of bonds is subject to taxation. An investment account allows Estonian taxpayers to defer taxation of income from investments.

If you have purchased bonds for an investment account and wish to defer income tax on interest payments, you must notify the bond issuer.

If you closed your securities account within the past year, then you can declare your data through the menu item 'Investment income'. If you would like to see a transaction statement of your securities account, then you should contact the bank.

You can review your transactions under the menu item 'Investment income'. The menu item 'Investment income' includes dividends received during the tax return period, which must be checked. Baltic dividends are listed in the securities account statement; information on the dividends from foreign securities can be obtained on page 3 of the investment income 'Review of transactions on the investment account and data of the regular system'.

If a minor holds an investment account, then it must be declared annually.

The data on transactions sent by the assistant for declaring investment income can be seen in the e-Tax environment from the next full hour. Sometimes, data moves slower, so if it is not there by the morning of the following working day, please contact the Tax and Customs Board.

If you have opened an investment account but have not made any contributions, then you do not have to declare it. The data of an investment account must be declared after making the first monetary contribution. Subsequently, you must add the monetary contributions and disbursements of an investment account to your income tax return every year. An investment account must be declared annually even if you have made no securities transactions or monetary transfers in the meantime or if all of the money transferred to the investment account has been invested and the balance of the investment account is 0.

In this case, you do not have to include the account in the report on investment income at SEB. An investment account must be declared each year, even if no securities transactions or transfers of funds have been made on it during the year.

A contribution to an investment account is income received on the investment account, except the following transactions:

• sale price of financial assets;
• transfer from another investment account of the account holder;
• dividends or interest earned on financial assets, subject to income tax, from which the payer has not withheld income tax.

In addition, you can declare as contributions:

• initial balance on the opening day when starting to use an existing account;
• the transfer of a service fee for the purchase of financial assets from another account if the purchase could not be made with the funds on the investment account.

A disbursement from an investment account is every disbursement from the account, except the following:

• purchase of financial assets;
• transfer to another investment account of the account holder;
• transfers of service fees for the purchase, sale, and exchange of financial assets.

In addition, the following must be declared as disbursements:

• final balance on the closing day in the case of declarative closure;
• income earned on financial assets which is subject to income tax (sales amount, dividends, interest), from which income tax has not been withheld and which was not transferred to the investment account immediately.

Please review the financial assets that you have purchased through that account and set the declaration system of the respective product to 'Regular system' on the previous page.

You can correct the income tax return of the previous year and declare the investment account data on it. To correct an earlier income tax return, you should contact the Tax and Customs Board. The declaration forms of previous years cannot be sent directly to the e-Tax environment from the SEB system, so that information must be added manually to the system of the Tax and Customs Board.

As pension investment accounts belong in the second pension pillar system, customers do not have to declare investment income earned from pension investment accounts, just like they do not have to declare contributions to the second pillar. Taxation takes place at the moment of disbursement.

Dividends paid by an Estonian enterprise to a pension investment account must be declared as income received by the pension investment account. Dividends from other countries do not have to be declared. Similarly, received interest does not have to be declared, but once already taxed, it should be documented as income of the pension investment account.  

Information regarding voluntary pension funds of the third pension pillar is already added to the pre-filled tax return of the Tax and Customs Board. If necessary, you can find the data on contributions and disbursements of your third pension pillar on the website of the Pension Centre by logging in to your account.  Contributions to the third pension pillar funds and the insurance agreements of the mandatory funded pension are deducted from the taxable income in the maximum amount of 15% of the annual taxable income, but no more than 6,000 euros. The amount of taxable income can be impacted by disbursements made from the third pension pillar during the year.  For an income tax refund, you must file an income tax return.

On 1 January 2018, the taxation of interests changed: income tax is charged on any interest payable to a resident natural person and the payer of interest is required to withhold a 20% income tax on payout.

If the deposit of a resident individual is linked to a current account, the bank deducts income tax from the payment of interest earned on the deposit. This happens even if the deposit was opened from an investment account, but the deposit is linked to a settlement account for the purposes of interest payments.

For the deferral of tax liability, you must open the deposit from an investment account. You must also transfer the amount and interest of deposit to the investment account when terminating the deposit.

Pursuant to the Income Tax Act, in order to defer tax liability, the client must inform the bank that the interest in question has been received from the financial assets acquired for the money in the investment account. At our bank, you can provide such notification when opening an investment account for all the financial assets from which you will transfer the income to the investment account in the future.

You do not have to declare or pay interests yourself. The bank withholds and declares the income tax and pays it for you.

Customers who receive deposit interest subject to income tax will continue to see two entries on the account statements: transfers of interest and of income tax. When calculating the income tax, the normal rules of rounding are followed.

For example: if you conclude an agreement for a 12-month deposit (365 days) for the amount of 500 euros with the interest rate of 0.30%, the bank will transfer 1.52 euros in interest to your account and withdraw 30 cents of income tax from your account at the end of the deposit period.

All interest rates that the bank publishes are in gross amounts. This means that taxes have not been subtracted from interest rates.

Some customers (such as companies, non-residents, users of the investment account system) do not have to pay income tax on deposit interest. Therefore, publishing interest rates with and without tax is not reasonable, keeping in mind the complicated tax system.

Since 2019, data on interest earned on bank deposits has been added to your pre-filled income tax returns automatically.